Post your Promise Collection wins! 16 16

[Robot Man]

Been seeing a big influx of deep pocketed Korean buyers at the flea markets in the past year. They push those big canvas sided carts and whipping out rolls of Benjamin’s which they dispense freely. They are buying weird stuff. Old photo albums, quilts, plastic dishes and 78 rpm records. They spent a couple thousand with the guy next to me last month. One guy gave me $200. For a paper box full of worthless comics I was basically giving away to kids.

What do they do with this stuff? Money laundering? I looked carefully at the money they gave me. It looked legit.

We used to get a lot of buyers from Japan. But they were buying quality Americana that they were selling at home to hipsters. They would come in busloads like tourists. But they are not coming any more.

[lou_fine]

On 11/20/2022 at 12:30 PM, buttock said:

They do look good in a slab.

But probably even better in a mylar sleeve where all of their colors and brightness can still shine through, but also much more easily accessible if you want to take a closer look and even more so, takes up a lot less storage space.    

[szav]

On 11/21/2022 at 12:55 AM, lou_fine said:

 

Then again, maybe not and wowza, will wonders never cease since @buttock's post referencing Ritter's website led me to this book here:  

https://comics.ha.com/itm/golden-age-1938-1955-/planet-comics-59-the-promise-collection-pedigree-fiction-house-1949-cgc-nm-94-off-white-to-white-pages/a/7248-93153.s?ic4=ListView-ShortDescription-071515

This Promise Collection copy sold at Heritage in November of 2021 as CGC 9.4 graded copy for $5,280 and then followed by this sale here:    

https://www.wwcomics.com/comicdetail.asp?Product_ID=PlanetComics_59_44226

http://images.wwcomics.com/images/medium/PlCo_59_96.jpg

Currently showing up in Ritter's WW website as "Sale Pending" at $8,500 with the book now being certified and slabbed as a CGC 9.6 graded copy.  Wish that Ritter website allows you to zoom in so that I can see the serial numbers to see if Ritter had done the CPR treatment on his Promise books or not.  Either way, you gotta give him some credit for having the balls to play the CPR game with his Promise book(s) here, whereas nobody else seems to have so far.  

BTW...maybe this didn't actually sell for $8,500 on Worldwide? It'll certainly be interesting to see if it can even beat its $5,280 sale price on HA as a 9.4.

https://www.comiclink.com/auctions/item.asp?back=%2FAUCTIONS%2FPREVIEW.ASP%3F_SORT%3DYES%26returning%3D1%26code%3D2022nov%26f1%3Darp%26ODire1%3DDESC%26f2%3Di.Type%2C%2Bi.Title%2C%2Bi.IssueNumber%26ODire2%3DASC%26f3%3Dsortcond%26ODire3%3DDESC%26pg%3D4%23Item_1639613&id=1639613&itemType=0

Edited November 25, 2022 by szav

[stock_rotation]

On 11/21/2022 at 2:55 AM, lou_fine said:

Currently showing up in Ritter's WW website as "Sale Pending" at $8,500 with the book now being certified and slabbed as a CGC 9.6 graded copy.  Wish that Ritter website allows you to zoom in so that I can see the serial numbers to see if Ritter had done the CPR treatment on his Promise books or not.  

[lou_fine]

On 11/24/2022 at 6:15 PM, szav said:

BTW...maybe this didn't actually sell for $8,500 on Worldwide? It'll certainly be interesting to see if it can even beat its $5,280 sale price on HA as a 9.4.

Well, looks like we can toss another Promise Collection resale into the red Loss side of the ledger, even after a rare successful CPR upgrade:  

https://www.comiclink.com/auctions/item.asp?back=%2FAUCTIONS%2FSEARCH.ASP%3FFocusedOnly%3D1%26where%3Dauctions%26title%3Dplanet%2Bomics%2B59%26ItemType%3DCB%23Item_1639613&id=1639613&itemType=0#detail

Sold for only $4,902 as a CGC 9.6 graded copy, as opposed to $5,280 back in 2021when it was only a CGC 9.4 graded copy.  Not sure if it ever sold on Worldwide even though it was listed as a so-called "Sale Pending" at $8,500?  

[szav]

On 11/30/2022 at 6:38 PM, lou_fine said:

Well, looks like we can toss another Promise Collection resale into the red Loss side of the ledger, even after a rare successful CPR upgrade:  

https://www.comiclink.com/auctions/item.asp?back=%2FAUCTIONS%2FSEARCH.ASP%3FFocusedOnly%3D1%26where%3Dauctions%26title%3Dplanet%2Bomics%2B59%26ItemType%3DCB%23Item_1639613&id=1639613&itemType=0#detail

Sold for only $4,902 as a CGC 9.6 graded copy, as opposed to $5,280 back in 2021when it was only a CGC 9.4 graded copy.  Not sure if it ever sold on Worldwide even though it was listed as a so-called "Sale Pending" at $8,500?  

There was at least one other book in the auction listed as "sale pending" on Worldwide that sold for a lower price on CL than it had been listed on WW as well...the Lady Luck #1(86), which I should have bid higher on I guess.

I guess someone else could have bought these books and tried to flip them on CLink, but WW used to put something like "going to ComicLink" for some books, so I can't say I know exactly what's going on with these books. 

Anyway, despite the apparent loss for whoever, you can no longer say no ones CPRing Promise books...but yeah doubt we'll see many attempts or successful ones anyway.  Why bother when even if you get a grade bump you're probably not going to affect the price much.  At least not for now.

[Steppenwolfscomics]

Along the lines of bad Promise Collection resales—Just saw True Crime Comics #2 go for $7100 on CLink. It originally sold for $16,800 on Heritage in 2021. Thoughts? 

[lou_fine]

On 11/30/2022 at 6:53 PM, Steppenwolfscomics said:

Along the lines of bad Promise Collection resales—Just saw True Crime Comics #2 go for $7100 on CLink. It originally sold for $16,800 on Heritage in 2021.

Looks like mere peanuts or loose change compared to the Terry-Toons 38 that took a 72% hit as it dipped a tad from $60K down to $16,800.  

 

On 11/30/2022 at 6:53 PM, Steppenwolfscomics said:

Thoughts? 

Well, for those who are seriously thinking of trying to flip their Promise Collection books so soon after overpaying for them, maybe this is the wrong thread to be posting in as they should really be posting in the "Post Your Promise Collection Losses" thread.  

For those winners who won what are some clearly gorgeous HTF books with eye popping color covers and plan to hold them going forward, the beauty of collecting comic books longer term is that time tends to heal all purchasing mistakes, even in the case of overgraded books and more so, even in the case of undisclosed restored books.    

[lou_fine]

On 11/30/2022 at 6:28 PM, szav said:

Anyway, despite the apparent loss for whoever, you can no longer say no ones CPRing Promise books...but yeah doubt we'll see many attempts or successful ones anyway.  Why bother when even if you get a grade bump you're probably not going to affect the price much.  At least not for now.

Well, of course there's always going to be the odd exception to every rule, and in this case, the prime exception here would be Worldwide.  

From a census population POV though, it's kind of sad to see that Ritter is not even bothering to turn in his old labels when he CPR his books.  

[jimbo_7071]

On 11/30/2022 at 8:38 PM, lou_fine said:

Well, looks like we can toss another Promise Collection resale into the red Loss side of the ledger, even after a rare successful CPR upgrade:  

https://www.comiclink.com/auctions/item.asp?back=%2FAUCTIONS%2FSEARCH.ASP%3FFocusedOnly%3D1%26where%3Dauctions%26title%3Dplanet%2Bomics%2B59%26ItemType%3DCB%23Item_1639613&id=1639613&itemType=0#detail

Sold for only $4,902 as a CGC 9.6 graded copy, as opposed to $5,280 back in 2021when it was only a CGC 9.4 graded copy.  Not sure if it ever sold on Worldwide even though it was listed as a so-called "Sale Pending" at $8,500?  

I don't think it actually sold for $8,500. I have seen a book from Worldwide's site "sell" on CLink only to magically end up back in Ritter's hands. I guess we'll have to wait and see whether this sale was real. Color me unsurprised if it shows up in Ritter's booth or on CLink again in a few months.

Edited December 1, 2022 by jimbo_7071

[Steppenwolfscomics]

On 11/30/2022 at 11:37 PM, lou_fine said:

Looks like mere peanuts or loose change compared to the Terry-Toons 38 that took a 72% hit as it dipped a tad from $60K down to $16,800.  

 

Well, for those who are seriously thinking of trying to flip their Promise Collection books so soon after overpaying for them, maybe this is the wrong thread to be posting in as they should really be posting in the "Post Your Promise Collection Losses" thread.  

For those winners who won what are some clearly gorgeous HTF books with eye popping color covers and plan to hold them going forward, the beauty of collecting comic books longer term is that time tends to heal all purchasing mistakes, even in the case of overgraded books and more so, even in the case of undisclosed restored books.    

Ha, I didn’t know about the Terry Toons 38 ouch.
 

 I certainly overpaid for my Justice Traps the Guilty 1, 2, 5, 6, and 9 Promise Collection books (especially 2 and 5). I have no intention of selling them though as they are for my permanent collection and registry set. I would like to see them be worth what I paid for them someday though just so I don’t feel too stupid 

[whomerjay]

On 11/30/2022 at 8:38 PM, lou_fine said:

Well, looks like we can toss another Promise Collection resale into the red Loss side of the ledger, even after a rare successful CPR upgrade:  

https://www.comiclink.com/auctions/item.asp?back=%2FAUCTIONS%2FSEARCH.ASP%3FFocusedOnly%3D1%26where%3Dauctions%26title%3Dplanet%2Bomics%2B59%26ItemType%3DCB%23Item_1639613&id=1639613&itemType=0#detail

Sold for only $4,902 as a CGC 9.6 graded copy, as opposed to $5,280 back in 2021when it was only a CGC 9.4 graded copy.  Not sure if it ever sold on Worldwide even though it was listed as a so-called "Sale Pending" at $8,500?  

The major points- Promise books tend to be overgraded and not CPR candidates, overhyped, and buyers paid sums that won’t allow a quick flip- thus far are supported by the data.

That said, if this Planet 59 is a legit 9.6   (iffy from scan; plus is there a dust shadow at bottom front and back?), 5-6k seems reasonable for a pedigreed Planet second only to the Church copy. In 5 years it will easily sell for more given the trajectory of Planets. 
 

Although now knowing this 9.6 was pressed, I’d rather have the unpressed  9.4.

[Robot Man]

On 12/1/2022 at 4:37 AM, Steppenwolfscomics said:

Ha, I didn’t know about the Terry Toons 38 ouch.
 

 I certainly overpaid for my Justice Traps the Guilty 1, 2, 5, 6, and 9 Promise Collection books (especially 2 and 5). I have no intention of selling them though as they are for my permanent collection and registry set. I would like to see them be worth what I paid for them someday though just so I don’t feel too stupid 

If you bought them for your personal collection, you love them and you didn’t go into debt for them, you are not stupid. But if you paid to the moon to hopefully make a profit, you will probably have a long wait and should have your head examined. 

I have never gone out on a limb or paid more than I was comfortable with for any comic in my collection.

Thusly, I did not bid on any of the Promise books and probably won’t ever own one. That is more than OK with me. 

[MasterChief]

Group of Timely’s up for auction later this month at Heritage...

[GreatCaesarsGhost]

The Promise Cap 1 graded 3.5 sold for $240k in November of 2021. In Heritage’s current auction, ending tomorrow, there’s a Cap 1 4.5 currently sitting at $180k. December auctions tend to be weaker than the rest of the year, and there’s a bunch of financial headwinds, but I gotta believe this book will pop at the end

[jimbo_7071]

On 12/10/2022 at 8:27 AM, GreatCaesarsGhost said:

The Promise Cap 1 graded 3.5 sold for $240k in November of 2021. In Heritage’s current auction, ending tomorrow, there’s a Cap 1 4.5 currently sitting at $180k. December auctions tend to be weaker than the rest of the year, and there’s a bunch of financial headwinds, but I gotta believe this book will pop at the end

It could, but the rusty staples will hurt it. If I could afford to buy a Cap #1 in 4.5, I would wait for one that didn't have rusty staples. (I remember considering going after 8.0 that ended up selling for $40,000 back in 2000 or 2001. That would have been a pile of money for me back then, but I sure wish that I had gone for it.)

[GreatCaesarsGhost]

On 12/10/2022 at 7:48 AM, jimbo_7071 said:

It could, but the rusty staples will hurt it. If I could afford to buy a Cap #1 in 4.5, I would wait for one that didn't have rusty staples. (I remember considering going after 8.0 that ended up selling for $40,000 back in 2000 or 2001. That would have been a pile of money for me back then, but I sure wish that I had gone for it.)

I understand, but the staples on the Promise copy were even rustier. Still got $240k,but I know for fact that that one was purchased by a crypto guy who didn’t know the difference 

 

as a side note, I would say the crypto guys who bought into the Promise collection will likely notice that their asset didn’t appreciate. But these guys are better off than if they kept all their funds in cryptocurrency. I’m looking for more Promise books to come back to auction because the owners need money 

Edited December 10, 2022 by GreatCaesarsGhost

[MrBedrock]

I think "the crypto guys" are just a boogeyman we made up to excuse the excesses of our friends.

[GreatCaesarsGhost]

On 12/10/2022 at 12:18 PM, MrBedrock said:

I think "the crypto guys" are just a boogeyman we made up to excuse the excesses of our friends.

I've seen this sentiment expressed before, most recently by @tth2, and I appreciate your gentle, humorous way of expressing disagreement. It was @G.A.tor that told me he knew the Cap 1 purchaser and that he was a crypto guy looking for a place to put his money.  And the timing seems right, to me.  Crypto was flying high at about the time the Promise collection came to market, and as this whole thread has repeated time and again, the prices those books went for were nothing less than insane.   To me it felt like there was all of a sudden more money guys throwing in. 

I hope I'm right, because it means we will start seeing more and more Promise books back on the market.

But you may be right:   we may have met the careless spenders, and it may be us

Edited December 10, 2022 by GreatCaesarsGhost

[MrBedrock]

On 12/10/2022 at 12:28 PM, GreatCaesarsGhost said:

I've seen this sentiment expressed before, most recently by @tth2 

Well darn it. I thought I actually had an original thought.